Assenagon Asset Management S.A. boosted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 282.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 449,830 shares of the retailer’s stock after purchasing an additional 332,155 shares during the quarter. Costco Wholesale makes up 1.0% of Assenagon Asset Management S.A.’s portfolio, making the stock its 7th biggest holding. Assenagon Asset Management S.A. owned approximately 0.10% of Costco Wholesale worth $91,635,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Harbour Capital Advisors LLC boosted its holdings in Costco Wholesale by 3.5% in the fourth quarter. Harbour Capital Advisors LLC now owns 8,090 shares of the retailer’s stock valued at $1,648,000 after purchasing an additional 270 shares during the last quarter. Strs Ohio boosted its holdings in Costco Wholesale by 1.3% in the fourth quarter. Strs Ohio now owns 428,784 shares of the retailer’s stock valued at $87,347,000 after purchasing an additional 5,494 shares during the last quarter. Clean Yield Group purchased a new position in Costco Wholesale in the fourth quarter valued at about $135,000. Boenning & Scattergood Inc. boosted its holdings in Costco Wholesale by 5.4% in the fourth quarter. Boenning & Scattergood Inc. now owns 3,886 shares of the retailer’s stock valued at $792,000 after purchasing an additional 200 shares during the last quarter. Finally, Cypress Wealth Services LLC boosted its holdings in Costco Wholesale by 12.3% in the fourth quarter. Cypress Wealth Services LLC now owns 3,000 shares of the retailer’s stock valued at $611,000 after purchasing an additional 329 shares during the last quarter. 70.77% of the stock is owned by institutional investors.
A number of research firms have commented on COST. BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 23rd. Citigroup downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $257.00 to $238.00 in a report on Monday, December 3rd. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Wednesday, December 5th. Wells Fargo & Co reduced their target price on Costco Wholesale from $235.00 to $220.00 and set a “market perform” rating on the stock in a report on Friday, December 14th. They noted that the move was a valuation call. Finally, Loop Capital reduced their target price on Costco Wholesale to $260.00 and set a “buy” rating on the stock in a report on Friday, December 14th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $242.15.
COST opened at $207.75 on Monday. Costco Wholesale Co. has a 12 month low of $175.79 and a 12 month high of $245.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.48 and a current ratio of 1.02. The company has a market capitalization of $91.51 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 13th. The retailer reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). The firm had revenue of $34.31 billion for the quarter, compared to the consensus estimate of $34.66 billion. Costco Wholesale had a net margin of 2.25% and a return on equity of 24.54%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 earnings per share. As a group, research analysts expect that Costco Wholesale Co. will post 7.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Friday, February 8th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, February 7th. Costco Wholesale’s payout ratio is currently 33.38%.
In other Costco Wholesale news, Director Susan L. Decker sold 739 shares of the stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $205.00, for a total transaction of $151,495.00. Following the completion of the transaction, the director now directly owns 52,249 shares of the company’s stock, valued at approximately $10,711,045. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan L. Decker sold 1,611 shares of the firm’s stock in a transaction on Friday, January 4th. The stock was sold at an average price of $206.15, for a total value of $332,107.65. Following the sale, the director now directly owns 51,389 shares of the company’s stock, valued at $10,593,842.35. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.
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Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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